Apple to Surpass HP, IBM in Sales by 2013, Analyst Says
A new report predicts Apple will surpass both IBM and Hewlett-Packard (HP) in revenue and sales by mid-2013. In fact, the man responsible for the report -- Forrester Research founder, George Colony -- says that Apple is "going to be a $200 billion revenue company."
Colony made the bold prediction in a recent interview with Bloomberg. He went on to suggest that Apple's mobile sector (which is known for the ludicrously popular iPad and iPhone) could propel the company to 50 per cent growth per year over the next 24 months.
Apple Growth Already Underway
When it comes to market capitalization, Apple is already a massive firm. It's valued at $317.8 billion in that regard, placing it behind only Exxon Mobil as the most valuable company by any classification.
But while its value remains extremely high, Apple's sales do lag behind several other major tech firms. Both HP and IBM have a better sales record, turning in $126 billion and $99.9 billion in 2010 sales, respectively. (Source: macobserver.com)
Although Apple's 2010 totals seem comparatively weak at $63.5 billion, that actually represents a 52 per cent growth over the previous year.
App Stores Gives Apple Edge
Colony predicts that growth will continue into 2011, 2012 and 2013.
In fact, he predicts the company's sales pace might actually increase, largely because of its extremely popular App Store. It makes sense; for example, it's unlikely the recently-unveiled and similarly-priced Research in Motion (RIM) PlayBook will do sales even remotely comparable to the iPad, primarily because of the 140,000-app-strong App Store.
According to Colony, that unique edge should propel Apple to a $100.3 billion fiscal sales year in 2011, a huge increase over 2010.
Apple Momentum To Slow if CEO Steps Down
At the same time, Colony also provided a warning for the company. The analyst believes CEO Steve Jobs has been a big reason for the firm's tremendous growth, and this momentum could tail off if an ill Jobs decides to step down.
"Without Steve Jobs as the CEO, I think it will be much harder for them... That would be a massive, massive hit to the valuation." (Source: appleinsider.com)
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